Features

Investor lost out after Santander advice error

SANTANDER customers are being warned not to allow call centre staff to fob
them off when they want to transfer investments.

Last week, a Sunday Times reader was told she could not move her Santander
stocks and shares Isa to a less risky investment because she first had to
consult a Santander adviser in her local branch — but none was available.
The delay meant she missed the top of the rally and saw her investments fall.

Santander pulled out all advisers from its branches in December to retrain
staff ahead of new financial advice rules introduced at the start of the
year.

Carol Ledger, 60, from Billericay, Essex, who works in the financial services
industry, was appalled when told she could not move her money. The operator
said she had to wait until February 8, when thousands of advisers will be
available to deal with investors whose products mature.